This paper examines the investment patterns of 50 Sovereign Wealth Funds in 903 public and private firms over the period 1984-2009, and specifically the determinants of a SWF’s weight of direct private equity in their overall portfolio. The paper finds evidence that SWFs are more likely to invest in private firms in countries that have less developed legal systems. (more…)
As more plan sponsors consider introducing defined contribution plans, Towers Watson encourages the deliberation of plan design, with the ideal scheme encouraging engagement, managing savings rates and investment elections as well as expenses and communication. (more…)
The China Investment Corporation has recognised Hong Kong’s international position by establishing a wholly-owned subsidiary, Hong Kong-CIC International (Hong Kong) Co., Limited.
The 108 investment staff of the Teacher Retirement System of Texas (TRS) have had their performance incentive awards reinstated, and will receive $9.7 million between them, after a year which saw the fund outperform its benchmark by 240 basis points making it the best performing public pension fund in the US.
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The $38.5 billion Alaska Permanent Fund Corporation (APFC) has made further enhancements to its unique approach to investment decision making, clarifying procedures relating to risk guidelines in its investment policy.
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Global equity markets significantly underperformed emerging and frontier markets in 2010, evidenced by MSCI Indices end of year data, with some emerging markets returning as much as 50 per cent and some frontier markest returning 70 per cent for the year.
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